Service Establishment Equipment and Supplies Merchant Wholesalers Commercial Loans

With these commercial loans for service establishment equipment and supplies merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This service establishment equipment and supplies merchant wholesalers loan for $1,235,000 was given to a Delaware entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dover, Delaware was able to borrow $1,235,000 from Wilmington Savings Fund Societ. The SBA made the loan possible by guaranteeing $926,250 of this Delaware small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICE ESTABLISHMENT EQUIPMENT AND SUPPLIES MERCHANT WHOLESALERS
DOVER, DE 19901

SBA Loan Lender

WILMINGTON SAVINGS FUND SOCIET
500 DELAWARE AVE
WILMINGTON, DE 19801

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423850 - Service Establishment Equipment and Supplies Merchant Wholesalers

Loan Approval Date

12/21/2007

Loan Approval Gross Amount

$1,235,000

Loan Approval from the SBA

Of the total $1,235,000 loan amount, the SBA guaranteed $926,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Wilmington Savings Fund Societ that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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